September 22, 2000 (NewsTraders.com) -- Dutch pension fund Stichting Pensioenfonds ABP, known for making investments in U.S. real estate investment trusts, has acquired new stakes in two such companies, Kimco Realty Corp. (NYSE:KIM) and Vornado Realty Trust (NYSE:VNO),...

September 22, 2000SAN DIEGO – The Price Enterprises Inc. affiliate of Excel Legacy Corp (AMEX:XLG) has recovered $22.1 million, or $160/sf from the sale of two Sacramento, Calif., office buildings.In addition, Price recovered $4.2 million from the sale...

September 22, 2000 METAIRIE, La. – Sarofim Realty Advisors has sold the Causeway Plaza in Metairie, La., to a venture between Concorde Realty Partners LLC and Lehman Brothers for $27.5 million.Sarofim owned the property on behalf of institutional...

September 22, 2000 Chase Commercial Mortgage Securities Corp. 2000-3ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingFitchAvg.LifePriced(BP)BenchMarkA-1120.223.875AAAAAA5.7+281-mo. LiborA-247123.875AAAAAA9.6+371-mo. LiborB36.919.125AAAA10+531-mo. LiborC31.0615.125AA10+651-mo. LiborD10.6813.75A-A-10+751-mo. LiborE24.2710.625BBBBBB10+230Treas.F7.769.625BBB-BBB-10+270Treas.X*776.6NAAAAAAA--+345**Treas.*Interest only, notional amount.** At 100 percent CPR.

September 22, 2000 ATLANTA – Bass Hotels & Resorts (NYSE:BAS) has promoted John Sweetwood to president of its Americas division, which combines the firm's Midscale Hotel Group and its upscale operation.The promotion for Sweetwood, who previously ran the...

September 22, 2000 CRANFORD, N.J.– Mack-Cali Realty Corp. (NYSE:CLI), which has terminated its agreement to buy Prentiss Properties Trust (NYSE:PP), has increased its common share repurchase plan.The REIT is now authorized to buy back up to $150 million...

September 22, 2000 IRVINE, Calif. – Cousins Properties Inc. (NYSE:CUZ) has opened the Mira Mesa MarketCenter, a 464,000-square-foot development featuring retail, dining, office space and entertainment.The center, at the intersection of Mira Mesa Boulevard and Interstate 15, is...

September 22, 2000 SACRAMENTO, Calif. – The California Job Journal, a local newspaper publishing business, has sued Pacific Gulf Properties alleging that office space at the REIT's Sacramento Commerce Park is contaminated with toxic mold.Pacific Gulf is in...

September 22, 2000CRANFORD, NJ – As expected, Mack-Cali Realty Corp. (NYSE:CLI) and Prentiss Properties Trust (NYSE:PP) have formally terminated their merger agreement.As part of the termination agreement, Prentiss will acquire, for $47.1 million, or $175/sf, Mack-Cali's Cielo Center,...

September 22, 2000 (NewsTraders.com) -- First Industrial Realty Trust (NYSE:FR) moved up to "strong buy" from "accumulate" Friday after receiving an upgrade from Prudential Securities analyst Lou Taylor, who also built up his price target on shares of...

September 22, 2000 NEW YORK – Edward S. Gordon, the former chairman of one of the best-known and most active commercial real estate firms in New York, died Thursday afternoon after a lengthy bout with cancer. He was...

September 22, 2000 DENVER – The Apartment Investment and Management Co. (NYSE:AIV) has completed the acquisition of Oxford Realty Financial Group Inc. for $252 million in cash and $62 million in securities.As a result of the transaction, Aimco...

September 21, 2000MOUNTAIN VIEW, Calif. – An investment group led by Divco West Properties LLC has paid $72.7 million, or $227/sf, for eight buildings totaling 320,000 square feet at the Shoreline Business Park in Mountain View, Calif.The properties...

September 21, 2000 Developers begin construction of $144 Mln Westin hotelCharlotte Observer, September 21CHARLOTTE, N.C. – StarPort I LLC has begun construction on its 700-room Westin hotel at College and Stonewall streets, directly across the street from the...

September 21, 2000 By Brad Berton, Commercial Real Estate Direct Contributing EditorThomas Safran & Associates has acquired a 200-unit, HUD-subsidized seniors apartment complex in Santa Ana, Calif., for $11.7 million, or $58,500/unit.The West Los Angeles-based multifamily specialist will...

September 21, 2000 SACRAMENTO, Calif. – The California Public Employees' Retirement System will invest $125 million into CIM California Urban Real Estate Fund LP, which is run by CIM Group LLC. The fund, which is aiming for returns...

September 21, 2000 Go to initial price guidance.LB-UBS Commercial Mortgage Trust 2000-C4ClassAmount($mln)Sub. Level(%)RatingS&PRatingMoody'sAvg.LifePriced(BP)BnchMarkA-117021AAAAaa5.87+301-mo. LiborA-2619.321AAAAaa9.45+401-mo. LiborB42.516.75AAAa29.7+551-mo. LiborC4012.75AA29.7+681-mo. LiborD12.511.5A-A39.7+781-mo. LiborE7.510.75BBB+Baa19.8+220Treas.F17.59BBBBaa29.8+230Treas.G12.57.75NRBaa39.8+260Treas.H22.55.5NRBa1------J12.54.25NRBa2------K7.53.5NRBa3------L7.52.75NRB1------M6.21.75NRB2------N51.25NRB3------P16.2NRNRNR------X*999.1--AAAAaa------* Notional amount, interest only.

September 21, 2000 SAN DIEGO – Burnham Pacific Properties Inc. (NYSE:BPP) has agreed to sell 19 properties to GMS Realty LLC for $305 million in cash. The properties, totaling 2.5 million square feet, are all grocery-anchored shopping centers...

September 21, 2000 Prudential Real Estate Investors has provided $100 million of equity financing, while Prudential Mortgage Capital provided $235 million of mortgage debt to Heritage Property Investment Trust for its purchase of Bradley Real Estate Inc.Prudential plans...

September 21, 2000 CARLSBAD, Calif. – ProLogis (NYSE:PLD) has invested $8 million in PhatPipe Inc., a broadband technology company, and will receive $8 million in PhatPipe preferred stock. Under the terms of the agreement, PhatPipe will work with...

September 21, 2000CLEVELAND – Developers Diversified Realty (NYSE:DDR) has received final approval from the Kent planning commission to construct a shopping center at State Route 261 and State Route 43 in Kent, Ohio.The company will begin construction on...

September 21, 2000BOSTON – A joint venture between Boston Properties Inc. (NYSE:BXP) and the New York State Common Retirement Fund has acquired 265 Franklin S. in Boston.Although terms were not disclosed, the purchase price is believed to have...

September 21, 2000 Martin Lanigan, who resigned from Prudential Mortgage Capital last month, was a managing director in charge of evaluating investments in subordinate commercial mortgage-backed securities. His title was mistated in an Aug. 28 article, "Marty Lanigan...

September 21, 2000 Go To S&P's Presale Report.Go To Fitch's Presale Report.Chase Commercial Mortgage Securities Corp. 2000-3ClassAmount($mln)Sub. Level(%)RatingMoody'sRatingFitchAvg.LifePriceTalk(BP)BnchMarkA-1120.223.875AAAAAA5.7+27-291-mo. LiborA-247123.875AAAAAA9.6+37-391-mo. LiborB36.919.125AAAA10+52-541-mo. LiborC31.0615.125AA10+65-671-mo. LiborD10.6813.75A-A-10+75-771-mo. LiborE24.2710.625BBBBBB10+240 areaTreas.F7.769.625BBB-BBB-10+270 areaTreas.X*776.6NAAAAAAA--NA--*Interest only, notional amount.

September 21, 2000 Table includes initial price guidance.1345 Avenue of the Americas Trust, Series 2000-XL1345ClassAmount($mln)RatingFitchRatingMoody'sAvg.LifePriceTalk(BP)Priced(BP)BenchMarkA-146.6AAAAaa5.6+34-36+361-mo. LiborA-2233.3AAAAaa9.9+45-46+461-mo. LiborB50.9AAAa29.9+57-59+591-mo. LiborC49AA29.9+69-71+701-mo. LiborD19.5A-A39.9+80-82+801-mo. LiborE34.2BBBBaa29.9+220-225*+220Treas.F16.4BBBBaa3**9.9+240 area+238Treas.X***450AAAAaa--NA+265****Treas.* The class E, triple-B strip was shopped for a period at +212 bp, but moved back to...